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Treasury: New economic plan will boost opportunities for small businesses

Finance Minister Tito Mboweni published the 77-page document on the Treasury website on Tuesday.

FILE: Finance Minister Tito Mboweni. Picture: EWN

JOHANNESBURG - Treasury said its new economic strategy blueprint focused on creating conditions for small businesses to flourish and that included paying them on time.

Finance Minister Tito Mboweni published the 77-page document on the Treasury website on Tuesday.

It explored possible structural reforms to boost economic growth and create jobs.

That included proposals to lower barriers for entry to business through increased competition and small business growth.

But the government has been criticised for crippling small businesses by failing to pay them on time.

At the moment, the state owed small businesses over R7 billion in unpaid invoices.

Treasury's head of economic policy, Dr Duncan Pieterse, who co-authored the paper, said the document dealt with how to resolve such challenges facing small businesses.

“One of the conditions we have to put in place to allow entrepreneurs and small businesses to flourish relates to the relationship small businesses have with the state and the rules that make it difficult or small businesses to emerge.”